This is very aggressive car loan pricing considering the hikes done by rbi to control inflation. RBI has increased rates by 13 times this year but State bank is not passing such rate hikes are is working on low margins on Car loans.

Its a bold step up by Psu bank in such market scenario.So whatever happens to banks or its profit margin, for the car loan customer its a win a win situation.

Car loan schemes are fixed so there is no fear to the customer that rates will increase after initial year.

So if you are a customer. its a good time to visit State bank nearest branch and try to get a car loan. So the next time you watch the tv ad of state bank, don't hesitate and think that scheme may be gimmick, but its one original offer. so don't wait and opt for SBI car loan.